M2M MVNO Wyless has agreed to acquire a majority stake in Brazilian M2M operator TM Data, expanding its footprint into what is widely regarded as one of the world’s fastest-growing M2M markets.

Wyless (Lawrence, MA, USA) did not disclose the financial terms of the deal but said it would establish the new brand of Wyless TM Data Brazil.

The takeover gives Wyless a strong position in the Brazilian market, with TM Data (Sao Paolo, Brazil) providing managed connectivity services across all the major M2M verticals and in partnership with all four of Brazil’s national mobile network operators (Vivo (Sao Paolo, Brazil), Claro (Brasilia, Brazil), TIM (Rio de Janeiro, Brazil) and Oi (Rio de Janeiro, Brazil)).

TM Data has also been working on the rollout of so-called “ancillary services” in areas including network management, consulting and equipment lifecycle management.

Using its Porthos-branded global delivery platform, Wyless says it will also extend the reach of Wyless TM Data Brazil into other international markets.

“Brazil is one of the largest growth opportunities in the M2M and Internet of Things market globally, and one of the most challenging of the BRIC regions to enter,” said Dan McDuffie, the chief executive of Wyless.

“Wyless TM Data Brazil will offer a bridge to and from this coveted market for our partners around the world and also serve as a jumping off point into other bordering Latin countries,” he added. “It’s not just about connectivity, but end-to-end solutions, from local representation, certification assistance, consulting and a broad range of managed services.”

Wyless has also welcomed the addition of Sergio Souza, TM Data’s founder and chief executive, to its management team.

“I am very pleased to combine TM Data experience and the reliable network we built with our partners TIM, Claro, Vivo and Oi with the advanced technology and global reach of Wyless,” said Souza. “The financial strength brought by Wyless Group will allow our operation to grow faster in Brazil and into our neighboring countries.”

The deal is a further sign of growing competition in Brazil’s burgeoning M2M market, coming several weeks after UK player Vodafone (Newbury, UK) announced a tie-up with Brazilian M2M player Datora Telecom (Sao Paolo, Brazil).

According to a recent report from Analysys Mason, Brazil’s M2M market is poised for dramatic growth over the next few years thanks, in part, to more supportive regulation.

The market-research company expects the number of M2M connections in Brazil to grow from less than 10 million in 2013 to about 35 million by 2018.